LEAWOOD, Kan., Aug. 17 /PRNewswire/ -- The board of directors of Gold Banc
(Nasdaq: GLDB) declared a cash dividend of 2 cents per common share, it was
announced today. The dividend will be payable on August 31, 1998 to
shareholders of record as of August 21, 1998. The dividend was approved at
Gold Banc's regular quarterly board of directors meeting held August 11, 1998.
On July 9, 1998, the Company acquired Farmers State Bancshares, Inc. of
Sabetha, Kan., and its wholly-owned subsidiary, Farmers State Bank, in a cash
transaction valued at $8.5 million. Farmers State Bank had total assets of
$47.6, deposits of $41.6 and net loans of $21.7 at June 30, 1998.
On August 4, 1998 the Company acquired Northwest Bancshares, Inc. and its
wholly-owned subsidiary, Peoples State Bank of Colby, Kan., in a tax-free
exchange of stock valued at approximately $2.95 million. Peoples State Bank
had total assets of $21.8 million, total deposits of $19.2 million and net
loans of $18.1 million at June 30, 1998.
On April 29, 1998 the Company announced a definitive merger agreement with
Tri-County Bancshares, Inc. of Washington, Kan., for a combination cash and
stock-for-stock/tax free transaction valued at $4.4 million. Tri-Country
National Bank, a wholly-owned subsidiary of Tri-County Bancshares with
locations in Concordia, Linn and Washington, Kan., had total assets of
$43.2 million, deposits of $39.8 million and net loans of $26.1 million at
June 30, 1998. On July 17, 1998, the SEC declared effective the Company's
Registration Statement on Form S-4, shareholder approval was received on
August 13, 1998, and the transaction is expected to close on Monday, August
17, 1998.
On May 20, 1998 the Company announced a definitive merger agreement to
acquire First State Bancorp, Inc. of Pittsburg, Kan., in tax-free exchange of
stock valued at approximately $25.0 million. First State Bank & Trust
Company, a wholly-owned subsidiary of First State Bancorp, had total assets of
$110.2 million, deposits of $93.4 million and loans of $62.9 million at June
30, 1998. Closing is expected during the fourth quarter of 1998.
Gold Banc currently owns and operates the following community banks:
Exchange National Bank, with locations in Leawood, Shawnee and Marysville,
Kan.; Citizens State Bank and Trust Company, located in Seneca, Kan.; Peoples
National Bank, located in Clay Center, Kan.; Peoples State Bank, Colby, Kan.,
Farmers State Bank, Sabetha, Kan.; Farmers National Bank, located in Oberlin,
Kan.; First National Bank in Alma, located in Alma, Kan.; and Provident Bank,
f.s.b., located in St. Joseph, Mo. All these community banks provide a full
range of commercial and consumer banking services in their respective markets,
with each bank retaining its board of directors, local identity and
decision-making authority. Gold Banc also owns Midwest Capital Management,
Inc., a full service broker/dealer and investment management firm based in
Kansas City, Mo.
SOURCE Gold Banc
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Related links:
http://www.goldbanc.com
CONTACT:
Keith E. Bouchey, Exec. VP & CFO,
keithb@goldbanc.com or Brian J. Ruisinger, Investor Relations,
brianr@goldbanc.com, both of Gold Banc, 913-451-8050; or General
Info., Paul Scheeler, 312-640-6742, pas@chi.frbd.com,
Analysts-Investors, Peter Samet, 212-661-8030, pls@ny.frbd.com or
Media Inquiries, Bess Gallanis, 312-640-6737, bag@chi.frbd.com,
all of The Financial Relations Board
NOTE TO EDITORS: For more information on Gold Banc toll-free via
fax, simply dial 1-800-PRO-INFO, follow the voice menu prompts
and enter the company code "GLDB" on any touch tone phone.
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